Gold prices bounced back from lows to trade higher as the market heads into the end of the week.
The Asian session was topped by a glimmer of gold precious metals which traded firmly around $1,965 an ounce, while gold futures traded at $1,979 an ounce.
Earlier, the yellow metal had recorded a recovery from its lows of $1,940 by surging back to $1,970 per ounce.
This was supported by the decline in greenback trading and the 10-year US treasury yield which fell to 3.73%.
Data released in the New York session showed the number of weekly US jobless claims rose to the highest level since 2021.
Although it is only one data, but the market takes it as a sign that the US economy is slowing down and the interest rate of the Federal Reserve (Fed) has peaked.
Investors are now cutting the odds of a rate hike of 25 basis points next week to 26%, according to the CME FedWatch tool.
However, there is still one more piece of data that most investors need to look at, which is the consumer inflation report on Tuesday next week before the results of the FOMC policy meeting early Thursday morning.
